"Georgia's Capital" Reports Decline in Wine Business Sales

"Georgia's Capital" has reported a decline in its wine business sales, attributed to weak export performance in the second quarter. According to the quarterly report presented to investors, net sales volumes fell by 26.5% to 11.9 million GEL from April to June, reflecting a 33.5% decrease in the number of bottles sold.

The report also noted that the share of exports in total sales dropped by 9.7 percentage points, now accounting for 79.3% of overall sales.

Despite the downturn in the second quarter, the first half of the year showed positive results. Revenues from the wine business grew by 14.8% year-on-year, reaching 29.6 million GEL, with an almost 14% increase in the number of bottles sold.

Additionally, the company managed to reduce operating costs by 4.8% in the second quarter. Overall, EBITDA for the first half of the year rose from 3.2 million to 3.8 million GEL.

"Georgia's Capital" holds shares in "Teliani Veli," "Kindzmarauli Winery," and "Alaverdi."